The Allstate Corporation $ALL Shares Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Allstate position by 99.6% in the third quarter, selling 444,054 shares and retaining 1,742 shares worth approximately $386,000. Institutional investors collectively own 76.47% of Allstate.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $270.19; recent targets range from $238 to $340.
• Allstate reported strong quarterly results, posting $8.99 in EPS versus the $6.06 consensus and $18.60 billion in revenue, up 11.8% year over year. Two insiders also sold a combined 89,221 shares in August.

Curated Wealth Partners LLC decreased its position in The Allstate Corporation (NYSE:ALL - Free Report) by 99.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,742 shares of the insurance provider's stock after selling 444,054 shares during the quarter. Curated Wealth Partners LLC's holdings in Allstate were worth $386,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ALL. WealthPlan Investment Management LLC boosted its stake in shares of Allstate by 12.9% in the third quarter. WealthPlan Investment Management LLC now owns 1,536 shares of the insurance provider's stock valued at $341,000 after purchasing an additional 176 shares during the period. Nvwm LLC grew its holdings in Allstate by 2,200.0% during the 3rd quarter. Nvwm LLC now owns 184 shares of the insurance provider's stock valued at $41,000 after purchasing an additional 176 shares in the last quarter. KG Capital Management increased its stake in Allstate by 30.3% during the 3rd quarter. KG Capital Management now owns 1,635 shares of the insurance provider's stock worth $363,000 after buying an additional 380 shares during the period. Mather Group LLC. increased its stake in Allstate by 8.1% during the 3rd quarter. Mather Group LLC. now owns 6,950 shares of the insurance provider's stock worth $1,516,000 after buying an additional 523 shares during the period. Finally, Fortitude Family Office LLC increased its stake in Allstate by 84.6% during the 3rd quarter. Fortitude Family Office LLC now owns 432 shares of the insurance provider's stock worth $96,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 76.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALL. Morgan Stanley decreased their price objective on shares of Allstate from $265.00 to $240.00 and set an "equal weight" rating for the company in a research report on Tuesday, October 6th. Bank of America raised their target price on Allstate from $336.00 to $340.00 and gave the company a "buy" rating in a research note on Monday, October 12th. Argus set a $238.00 target price on Allstate in a research report on Friday, August 28th. BMO Capital Markets boosted their price target on Allstate from $250.00 to $284.00 and gave the stock an "outperform" rating in a research note on Thursday, August 13th. Finally, Roth Capital set a $300.00 price target on Allstate in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Allstate presently has an average rating of "Hold" and an average target price of $270.19.

Insider Buying and Selling at Allstate

In other Allstate news, insider John Dugenske sold 32,996 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the completion of the transaction, the insider directly owned 13,054 shares of the company's stock, valued at $3,515,833.82. This trade represents a 71.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Mario Rizzo sold 56,225 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the sale, the chief operating officer directly owned 82,227 shares of the company's stock, valued at $21,747,396.96. The trade was a 40.61% decrease in their position. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by company insiders.

Allstate Stock Up 3.2%

ALL stock opened at $247.27 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.24. The firm has a 50 day simple moving average of $246.77 and a 200-day simple moving average of $235.04. The company has a market capitalization of $62.52 billion, a P/E ratio of 4.94, a PEG ratio of 0.55 and a beta of 0.13. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22.

Allstate (NYSE:ALL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.06 by $2.93. The firm had revenue of $18.60 billion for the quarter, compared to analysts' expectations of $15.46 billion. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The firm's quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $5.94 earnings per share. On average, equities research analysts predict that The Allstate Corporation will post 36.25 earnings per share for the current fiscal year.

Allstate Profile

Allstate Corporation is an insurance company that provides protection products and services primarily to individuals and families. Its offerings include automobile, homeowners, renters, condominium, and other property and casualty insurance, along with roadside assistance, identity protection, and related protection services.

The company distributes products through a network of exclusive agents, independent agents, contact centers, and digital channels. Allstate also serves customers through brands and businesses including National General, which expands its presence in personal and commercial auto insurance and other specialty coverage markets.

Founded in 1931 as part of Sears, Roebuck & Co, Allstate became an independent publicly traded company in 1995.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.